Tezos Technical Analysis: XTZ/USD bulls retain control and aim to take price above $2.60 psychological level
- XTZ./USD bulls remained in control for the second straight day.
- William's %R looks to creep back inside the overbought zone.
XTZ/USD daily chart
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XTZ/USD has gone up from $2.542 to $2.58, as the bulls stayed in control for the second straight day. The Elliott Oscillator has had six straight green sessions, indicating that the market sentiment is currently bullish. William's %R looks to creep back inside the overbought zone, which could trigger a short-term bearish correction.
Support and Resistance
XTZ/USD bulls will want to conquer resistance at $2.657 (SMA 50) to continue upward momentum. On the downside, it is well supported at $2.504, $2.48 (SMA 20) and $2.43.
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
